TAIWAN MOBILE CO., LTD. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED JUNE 30, 2015 AND 2014 (In Thousands of N
|
|
- Clinton Hamilton
- 5 years ago
- Views:
Transcription
1
2
3
4
5
6
7
8
9 TAIWAN MOBILE CO., LTD. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED JUNE 30, 2015 AND 2014 (In Thousands of New Taiwan Dollars, Unless Stated Otherwise) (Reviewed, Not Audited) 1. ORGANIZATION AND OPERATIONS Taiwan Mobile Co., Ltd. (TWM) was incorporated in Taiwan, the Republic of China ( ROC ) on February 25, TWM s shares were listed on the ROC Over-the-Counter Securities Exchange (known as the GreTai Securities Market) on September 19, On August 26, 2002, TWM s shares were shifted to be listed on the Taiwan Stock Exchange. TWM are mainly engaged in rendering wireless communication services and sells mobile phones and accessories. TWM s received a second-generation (2G) mobile telecommunications concession operation license issued by the Directorate General of Telecommunications (DGT) of the ROC. The license allows TWM to provide services for 15 years from 1997 onwards. The license was renewed and its expiry date was extended to June 2017 by the National Communications Commission (NCC). In March 2005, TWM received a third-generation (3G) concession operation license issued by the DGT. The 3G license allows TWM to provide services from the issuance date of the license to December 2018.TWM acquired the Mobile Broadband Spectrum (4G) in October In April 2014, TWM acquired the concession license for the Mobile Broadband Spectrum in the 700 and 1800 MHz frequency band. The 4G license shall be valid from the issuance date of the license until December The consolidated financial statements of TWM as of and for the six months ended, comprise TWM and its subsidiaries (the Group ). 2. APPROVAL DATE AND PROCEDURES OF THE CONSOLIDATED FINANCIAL STATEMENTS The Board of Directors approved the consolidated financial statements on July 30, ADOPTION OF NEW AND AMENDED STANDARDS AND INTERPRETATIONS a. Initial application of amended Regulations Governing the Preparation of Financial Reports by Securities Issuers and the 2013 version of the International Financial Reporting Standards (IFRSs), International Accounting Standards (IASs), Interpretations of International Financial Reporting Standards (IFRIC), and Interpretations of IASs (SIC) endorsed by the Financial Supervisory Commission (FSC) (collectively, 2013 IFRSs ). In accordance with Rule No and Rule No issued by the FSC, the Group adopted the 2013 IFRSs endorsed by the FSC and amended Regulations Governing the Preparation of Financial Reports by Securities Issuers to prepare the financial statements since Except for the following description, the adoption of the 2013 IFRSs and the amended Regulations Governing the Preparation of Financial Reports by Securities Issuers would not have any significant impacts on the Group s consolidated financial statements
10 1) IAS 19 Employee Benefits The amendments to IAS 19 require companies to calculate a net interest amount by applying the discount rate to the net defined benefit liability or asset to replace the interest cost and expected return on plan assets used in the previous IAS 19. In addition, the amendments eliminate the accounting treatment of either the corridor approach or the immediate recognition of actuarial gains and losses in profit or loss when they occur, and instead require companies to recognize all actuarial gains and losses immediately through other comprehensive income. The past service cost, on the other hand, will be expensed immediately when it is incurred and will no longer be amortized over the average period before meeting vesting conditions on a straight-line basis. In addition, the amendments also require a broader disclosure of defined benefit plans. In compliance with the amended standards above, the Group summarized the effect of restatement as follows: Effect on Assets, Liabilities and Equity Before Retrospective Application Adjustments Arising from Initial Application After Retrospective Application 2014 Deferred tax assets $ 882,732 $ 2,441 $ 885,173 Net defined benefit liabilities $ 122,423 $ 14,359 $ 136,782 Retained earnings $ 19,817,858 $ (11,917) $ 19,805,941 Non-controlling interests $ 6,252,898 $ (1) $ 6,252,897 June 30, 2014 Deferred tax assets $ 883,900 $ 2,631 $ 886,531 Deferred tax liabilities $ 2,441,763 $ (13) $ 2,441,750 Net defined benefit liabilities $ 107,704 $ 15,553 $ 123,257 Retained earnings $ 13,052,044 $ (12,909) $ 13,039,135 January 1, 2014 Deferred tax assets $ 924,576 $ 2,738 $ 927,314 Net defined benefit liabilities $ 115,463 $ 16,101 $ 131,564 Retained earnings $ 22,171,132 $ (13,363) $ 22,157,769 Effect on Comprehensive Income Before Retrospective Application Adjustments Arising from Initial Application After Retrospective Application For the three months ended June 30, 2014 Operating costs $ 17,332,519 $ (174) $ 17,332,345 Operating expenses $ 4,239,583 $ (100) $ 4,239,483 Tax expenses $ 888,480 $ 47 $ 888,527 Profit $ 4,267,539 $ 227 $ 4,267,766 Effect on profit attributable to: Owners of parent $ 4,136,910 $ 227 $ 4,137,137 Non-controlling interests 130, ,629 $ 4,267,539 $ 227 $ 4,267,766 (Continued) - 9 -
11 Effect on Comprehensive Income Before Retrospective Application Adjustments Arising from Initial Application After Retrospective Application Effect on comprehensive income attributable to: Owners of parent $ 4,100,177 $ 227 $ 4,100,404 Non-controlling interests 146, ,740 For the six months ended June 30, 2014 $ 4,246,917 $ 227 $ 4,247,144 Operating costs $ 35,323,072 $ (348) $ 35,322,724 Operating expenses $ 8,890,924 $ (200) $ 8,890,724 Tax expenses $ 1,751,921 $ 94 $ 1,752,015 Profit $ 8,443,431 $ 454 $ 8,443,885 Effect on profit attributable to: Owners of parent $ 8,221,133 $ 454 $ 8,221,587 Non-controlling interests 222, ,298 $ 8,443,431 $ 454 $ 8,443,885 Effect on comprehensive income attributable to: Owners of parent $ 8,028,968 $ 454 $ 8,029,422 Non-controlling interests 241, ,628 $ 8,270,596 $ 454 $ 8,271,050 (Concluded) Effect on Earnings Per Share Before Retrospective Application Adjustments Arising from Initial Application After Retrospective Application For the three months ended June 30, 2014 Basic earnings per share $ 1.54 $ - $ 1.54 Diluted earnings per share $ 1.54 $ - $ 1.54 For the six months ended June 30, 2014 Basic earnings per share $ 3.06 $ - $ 3.06 Diluted earnings per share $ 3.05 $ - $ ) IAS 1 Presentation of Financial Statements The amendments to IAS 1 require entities to group items presented in other comprehensive income (OCI) based on whether they may be reclassified to profit or loss subsequently, and requires tax to be allocated and disclosed separately for each of the two OCI groups on the same basis
12 In 2015, the Group has retrospectively applied the above amendments, for which the items that will not be reclassified subsequently to profit or loss include the re-measurement of the defined benefit plans. The items that may be reclassified subsequently to profit or loss include exchange differences on translation, unrealized gains (losses) on available-for-sale financial assets, and the share of other comprehensive income (loss) of associates accounted for using equity method. The adoption of the above amendments will not impact profit, other comprehensive income (loss), and comprehensive income. 3) IFRS 12 Disclosure of Interests in Other Entities IFRS 12 integrates all related standards on disclosures requirements for all forms of interests in other entities, including subsidiaries, joint arrangements, associates, and un-consolidated structured entities. For the first-time adoption of the amendments, the Group will provide a wider range of disclosure in the consolidated financial statements. 4) IFRS 13 Fair Value Measurement IFRS 13 defines the meaning of fair value and sets the method of calculation and the presentation of measurement of fair value. As the adoption will be postponed until after 2015, the Group does not expect any significant impacts on the consolidated financial condition and performance. b. New standards and interpretations of 2013 IFRSs issued by the IASB but not yet endorsed by the FSC Except for the following description, the Group s assessment of the new standards and interpretations not yet adopted is disclosed in Note 3 to the consolidated financial statements for the year ended IFRS 15 Revenue from Contracts with Customers IFRS 15 establishes the principles that apply to report revenue arising from a contract with a customer. This standard will replace IAS 18 Revenue, IAS 11 Construction Contracts, and related interpretations. When adopting IFRS 15, the Group recognizes revenue by the following steps: 1) Identify the contract with the customer; 2) Identify the performance obligations in the contract; 3) Determine the transaction price; 4) Allocate the transaction price to the performance obligations in the contract; and 5) Recognize revenue when the entity satisfies a performance obligation. When IFRS 15 becomes effective, the Group may elect to apply this standard either retrospectively to each period presented or to recognize the accumulated adjustment at the date of initial application. Except for the above impact, as of the date the consolidated financial statements were authorized for issue, the Group is continuously assessing the possible impact that the application of other standards and interpretations will have on the Group s financial position and financial performance, and will disclose the relevant impact when the assessment is completed. 4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Except for the following description, the significant accounting policies adopted for the consolidated financial statements are the same as those adopted for the consolidated financial statements for the year ended
13 Statement of Compliance The consolidated financial statements have been prepared in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and IAS 34 Interim Financial Reporting endorsed by the FSC. The consolidated financial statements do not include all the information which should be disclosed in the annual consolidated financial statements in accordance with the IFRSs, IASs, IFRIC Interpretations, and SIC Interpretations endorsed by the FSC. Basis of Consolidation a. The basis of preparing the consolidated financial statements is the same as that of the consolidated financial statements for the year ended b. The subsidiaries included in the consolidated financial statements were as follows: Investor Subsidiary Main Business and Products Percentage of Ownership 2014 June 30, 2014 Note TWM Wealth Media Technology Investment Co., Ltd. (WMT) WMT momo.com Inc. (momo) Wholesale and retail sales Note 1 momo Fu Sheng Travel Service Travel agent Co., Ltd (FST) momo Fuli Life Insurance Agent Life insurance agent Co., Ltd. (FLI) momo Fuli Property Insurance Property insurance agent Agent Co., Ltd. (FPI) momo Asian Crown International Investment Note 2 Co., Ltd. (Asian Crown) Asian Crown Fortune Kingdom Investment Corporation (Fortune Kingdom) Fortune Hong Kong Fubon Investment Kingdom Multimedia Technology Co., Ltd. (HK Fubon Multimedia) HK Fubon Fubon Gehua (Beijing) Wholesaling Note 2 Multimedia momo Honest Development HK Yue Numerous WMT GWMT WMT GFMT WMT WMT Enterprise Ltd. (FGE) Honest Development Co, Ltd. (Honest Development) Hongkong Yue Numerous Investment Co., Ltd. (HK Yue Numerous) Haobo Information Consulting (Shenzhen) Co., Ltd. (Haobo) Global Wealth Media Technology Co., Ltd. (GWMT) Globalview Cable TV Co., Ltd. (GCTV) Global Forest Media Technology Co., Ltd. (GFMT) Union Cable TV Co., Ltd. (UCTV) Win TV Broadcasting Co., Ltd. (WTVB) TFN Media Co., Ltd. (TFNM) Investment Note 3 Investment Note 3 Investment Note 3 Investment Cable TV service provider Investment Cable TV service provider TV program provider Cable broadband and value-added services provider TFNM UCTV Cable TV service provider TFNM Yeong Jia Leh Cable TV Cable TV service provider Co., Ltd. (YJCTV) TFNM Mangrove Cable TV Co., Ltd. (MCTV) Cable TV service provider Note 4 (Continued)
14 Investor Subsidiary Main Business and Products Percentage of Ownership 2014 June 30, 2014 Note TFNM Phoenix Cable TV Co., Ltd. Cable TV service provider (PCTV) TFNM GCTV Cable TV service provider TFNM Taiwan Kuro Times Co., Online music and game Ltd. (TKT) service TWM Taiwan Cellular Co., Ltd. Investment (TCC) TCC TCC Investment Co., Ltd. Investment Note 5 (TCCI) TCCI TCCI Investment & Investment Development Co., Ltd. (TID) TCC Taiwan Fixed Network Co., Fixed-line service provider Ltd. (TFN) TFN TFN Union Investment Co., Investment Ltd. (TUI) TFN TFN HK Ltd. Telecommunication service provider TCC Taiwan Digital Mobile phone wholesaling Communications Co., Ltd. (TDC) and TV program production TCC TWM Holding Co., Ltd. Investment TWM Holding TCC TT&T TT&T TCC TWM (TWM Holding) TWM Communications (Beijing) Co., Ltd. (TWMC) Taiwan Teleservices & Technologies Co., Ltd. (TT&T) Taiwan Mobile Basketball Co., Ltd. (TMB) TT&T Holdings Co., Ltd. (TT&T Holdings) Taiwan Digital Service Co., Ltd. (TDS) Taipei New Horizon Co., Ltd. (TNH) Mobile application development and design Call center service and telephone marketing Basketball team Note 6 management Investment Telecommunications service agencies and retail business Building and operating Songshan Cultural and Creative Park BOT project Note 7 (Concluded) Note 1: WMT disposed of part of its shareholding in momo as stock released for registration as emerging and listed stock in February and December 2014, respectively. Due to non-proportional investment in momo s capital increase, the percentage of ownership in momo decreased. Despite the reduction in the shareholding in momo, WMT still has over half of the seats on the Board of Directors of momo and maintains control over momo, so momo is included in the consolidated entities. Note 2: Due to non-proportional investment in Asian Crown s and FGE s capital increase in September and October 2014, momo s percentage of ownership in Asian Crown decreased, and investor HK Fubon Multimedia s percentage of ownership in FGE increased. Note 3: In June 2015, momo established Honest Development to purchase HK Yue Numerous and its subsidiary, Haobo, through portfolio investment, and indirectly acquired 20% of the associate, GHS Co., Ltd. (Beijing), through Haobo. Note 4: The other 70.47% of shares were held under trustee accounts. Note 5: TCCI, TID and TUI collectively owned 698,752 thousand shares of TWM representing 20.42% of total outstanding shares as of. Note 6: TMB was sold in September
15 Note 7: TWM subscribed for the shares based on its proportion of the shareholding in TNH, which remained at 49.9%. Since February 21, 2014, TWM has had control over TNH due to a change in the board members of TNH, and therefore TNH is included in the consolidated entities as a subsidiary. c. Subsidiaries excluded from the consolidated financial statements: None. Financial Instruments Derivatives are initially recognized at fair value at the date the derivative contracts are entered into and are subsequently re-measured to their fair value at the end of each reporting period. The resulting gain or loss is recognized in profit or loss immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in profit or loss depends on the nature of the hedge relationship. Derivatives embedded in non-derivative host contracts are treated as separate derivatives when they meet the definition of a derivative, their risks and characteristics are not closely related to those of the host contracts and the contracts are not measured at fair value through profit or loss. Employee Benefits Obligations for contributions to defined contribution pension plans are recognized as an expense in profit or loss in the periods during which services are rendered by employees. The defined benefit costs (including service cost, net interest, and re-measurement) of defined benefit plan use the projected unit credit method for the actuarial valuation. Service cost (including current service cost and past service cost) and net interest on the net defined benefit liability (asset) are recognized under employee benefit expense as they occur. Re-measurement (including actuarial gains and losses, changes in the effect of the asset ceiling, and the return on plan assets, excluding amounts included in net interest) is recognized in other comprehensive income or loss in retained earnings as it occurs, and is not reclassifiable to profit or loss subsequently. Net defined benefit liability (asset) is the deficit (surplus) of defined benefit plans. IAS 19 requires the Group to limit the carrying amount of a net defined benefit asset so that it does not exceed the economic benefits available in the form of refunds from the plan or reductions in future contributions to the plan. Pension cost for an interim period is calculated on a year-to-date basis by using the actuarially determined pension cost rate at the end of the prior fiscal year. Income Tax Income tax expense represents the sum of the tax currently payable and deferred tax. The interim-period income tax expense is accrued using the tax rate that would be applicable to expected total annual earnings, that is, the estimated average annual effective income tax rate applied to the profit before tax of the interim-period. 5. CRITICAL ACCOUNTING JUDGMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY The same critical accounting judgments and key sources of estimation uncertainty have been followed in these consolidated financial statements as were applied in the preparation of the consolidated financial statements for the year ended
16 6. CASH AND CASH EQUIVALENTS 2014 June 30, 2014 Government bonds with repurchase rights and short-term notes and bills $ 4,354,263 $ 3,780,870 $ 3,499,013 Cash in banks 2,123,768 2,214,593 1,659,304 Time deposits 2,209,854 1,777, ,070 Cash on hand and revolving funds 99, , ,971 $ 8,787,664 $ 7,903,777 $ 6,000, AVAILABLE-FOR-SALE FINANCIAL ASSETS 2014 June 30, 2014 Domestic listed stock $ 213,873 $ 204,310 $ 209,092 Domestic emerging stock 1,069, ,103 1,010,379 Domestic unlisted stock 1,838,362 2,587,050 - Beneficiary certificates 989,104 2,009, ,323 $ 4,110,356 $ 5,693,910 $ 1,988,794 Current $ 1,202,977 $ 2,213,757 $ 978,415 Non-current 2,907,379 3,480,153 1,010,379 $ 4,110,356 $ 5,693,910 $ 1,988, FINANCIAL ASSETS AT COST 2014 June 30, 2014 Non-current Domestic unlisted stock $ 185,602 $ 185,602 $ 125,602 Foreign unlisted stock 7,050 7,050 50,324 $ 192,652 $ 192,652 $ 175,926 The aforementioned investments held by the Group are measured at cost less impairment loss at year-end given that the range of reasonable fair value estimates is significant and the probability for each estimate cannot be reasonably determined. Therefore, the Group management has determined that the fair value cannot be measured reliably. For the six months ended and 2014, there was no impairment loss recognized for the financial assets recorded at cost
17 9. ACCOUNTS AND NOTES RECEIVABLE, NET 2014 June 30, 2014 Notes receivable $ 28,116 $ 110,093 $ 30,713 Accounts receivable 15,483,994 15,157,962 14,529,180 Less: Allowance for doubtful accounts (281,239) (277,815) (281,720) Accounts receivable, net 15,202,755 14,880,147 14,247,460 Total $ 15,230,871 $ 14,990,240 $ 14,278,173 The accounts receivable aging analysis of the Group was as follows: 2014 June 30, 2014 Neither past due nor impaired $ 14,869,663 $ 14,417,430 $ 13,884,135 Past due but not impaired Past due within 180 days 332, , ,727 Past due over 180 days ,598 $ 15,202,755 $ 14,880,147 $ 14,247,460 Movements of allowance for doubtful receivables by individual assessment for the six months ended June 30, 2015 and 2014 were as follows: For the Six Months Ended June Beginning balance $ 277,815 $ 288,620 Add: Provision 207, ,397 Reversal 33,486 76,267 Less: Write-off (237,737) (210,564) Ending balance $ 281,239 $ 281,720 The Group entered into accounts receivable factoring contracts with asset management companies. The Group sold the asset management companies the overdue accounts receivable that had been written off. Under the contracts, the Group would no longer assume the risk on the receivables. The related information was as follows: Counterparty January 2015 Amount of Accounts Receivable Sold Proceeds of the Sale of Accounts Receivable Long Sun Asset Management Co., Ltd. $ 626,514 $ 31,025 January 2014 Long Sun Asset Management Co., Ltd. $ 991,966 $ 42,
18 10. INVENTORIES 2014 June 30, 2014 Merchandise $ 2,844,195 $ 3,131,412 $ 2,993,233 Materials for maintenance 76,553 78,214 66,702 Catering inventories 1,687 1,362 - $ 2,922,435 $ 3,210,988 $ 3,059,935 For the three months and six months ended, the cost of goods sold recognized in consolidated comprehensive income amounted to $10,639,468 thousand and $23,298,433 thousand, respectively, which included the inventory recovery based on net realizable value amounting to $46,959 thousand and $84,467 thousand, respectively. For the three months and six months ended June 30, 2014, the cost of goods sold recognized in consolidated comprehensive income amounted to $9,344,646 thousand and $19,464,660 thousand, respectively, which included the inventory write-downs amounting to $27,758 thousand and $14,064 thousand, respectively. 11. NON-CURRENT ASSETS HELD-FOR-SALE AND DISCONTINUED OPERATIONS a. Non-current assets held for sale 1) In November 2013, TFN decided to dispose of a piece of land and sold it to Chii Lih Development Enterprise Co., Ltd. The land was recorded as assets held for sale amounting to $50,275 thousand at the end of 2013, and the transfer of the ownership, which was completed on January 28, 2014, resulted in a gain of $158,568 thousand. 2) In March 2014, the Board of Directors of momo resolved to sell the traditional retail business to We Can Medicines Co., Ltd. At the end of March 2014, the total value of machinery and equipment, storage equipment, and telecommunication equipment held for sale was $46,310 thousand, and a total impairment loss of $17,794 thousand was recognized through measurement at the lower of carrying amount and fair value less costs to sell. The above equipment was disposed of in June 2014, which resulted in a loss of $4,862 thousand recorded in loss from discontinued operations in the consolidated statement of comprehensive income. b. Disclosure of profit and loss, and cash flows from discontinued operations For the Three Months Ended June For the Six Months Ended June 30 Profit and loss from discontinued operations: Operating revenue $ 49,625 $ 172,273 Operating costs 47, ,848 Gross profit 2,107 33,425 Operating expenses 41, ,382 Other income and expenses (1,543) (1,727) Loss from discontinued operations before tax (41,429) (70,684) Non-operating income and expenses Loss on disposal of property, plant, and equipment (956) (2,148) Interest income 9 39 (Continued)
19 For the Three Months Ended June For the Six Months Ended June 30 Others $ 742 $ 1,086 Tax benefit 7,073 12,183 Loss from discontinued operations after tax (34,561) (59,524) Gain (loss) on disposal of the assets from discontinued operations Loss recognized on measurement of fair value less costs to sell of the assets from discontinued operations before tax - (17,794) Loss recognized on the disposal of the assets from discontinued operations before tax (4,862) (4,862) Tax benefit 826 3,851 Loss recognized on measurement of fair value less costs to sell of the assets disposed of from discontinued operations after tax (4,036) (18,805) Loss from discontinued operations after tax $ (38,597) $ (78,329) Cash flows from (used in) discontinued operations: Net cash from operating activities $ 6,566 $ 40,612 Net cash from investing activities 56,390 58,270 Net cash from financing activities (1,483) (1,796) Net increase in cash $ 61,473 $ 97,086 (Concluded) c. Profit (loss) from discontinued operations attributable to owners of parent: Please refer to Note INVESTMENTS ACCOUNTED FOR USING EQUITY METHOD The Group s associates that are accounted for using equity method were as follows: Investee Company 2014 June 30, 2014 % of % of % of Amount Ownership Amount Ownership Amount Ownership GHS Co., Ltd. (Beijing) (GHS) $ 672, $ - - $ - - Taiwan Pelican Express Co., Ltd. (TPE) 428, , , Kbro Media Co., Ltd. (Kbro Media) 276, , , TVD Shopping Co., Ltd. (TVD Shopping) 151, , , Alliance Digital Tech Co., Ltd. (ADT) 18, , , $ 1,546,612 $ 897,246 $ 878,
20 a. GHS In June 2015, momo s subsidiary acquired 20% of GHS. As of, the investment of $67,045 thousand has not been remitted. In addition, the purchase price allocation report for GHS is in the process of preparation. b. TPE In August 2012, momo, a subsidiary of TWM, acquired 20% of TPE. As of December 2013, momo held 17.70% of TPE due to not subscribing for new shares issued by TPE and selling part of its shares when TPE went public. momo still has significant influence on TPE due to having two of TPE s board of directors. c. TVD Shopping In April 2014, momo acquired 35% of TVD Shopping. d. ADT In November 2013, TWM acquired 19.23% of ADT. In 2014, TWM held 13.33% of ADT due to not subscribing for new shares issued by ADT. TWM holds less than 20% of ADT but still has significant influence on ADT due to having one of ADT s board of directors. 13. SUBSIDIARIES WITH MATERIAL NON-CONTROLLING INTERESTS Proportion of Non-controlling Interests Ownership and Voting Rights Subsidiary 2014 June 30, 2014 momo 55.62% 55.62% 50.07% For information on the principal place of business and the Company s country of registration, please refer to Table 7. momo s and subsidiaries summary financial information has taken into account the adjustment to acquisition-date fair value, and reflects the amounts before elimination of intercompany transactions: 2014 June 30, 2014 Current assets $ 5,373,179 $ 6,792,676 $ 2,556,517 Non-current assets 11,174,413 10,716,690 10,726,704 Current liabilities (3,174,730) (3,385,989) (3,324,206) Non-current liabilities (250,387) (253,661) (256,434) Equity $ 13,122,475 $ 13,869,716 $ 9,702,581 (Continued)
21 2014 June 30, 2014 Equity attributable to: Owners of parent $ 9,035,658 $ 9,352,414 $ 8,481,570 Non-controlling interests of momo 4,036,972 4,433,431 1,217,932 Non-controlling interests of momo s subsidiaries 49,845 83,871 3,079 $ 13,122,475 $ 13,869,716 $ 9,702,581 (Concluded) For the Three Months Ended June 30 For the Six Months Ended June Operating revenues $ 6,198,935 $ 5,616,264 $ 12,458,587 $ 11,280,197 Profit $ 252,853 $ 267,138 $ 510,379 $ 463,144 Other comprehensive income (23,511) 32,367 (52,963) 38,768 Comprehensive income $ 229,342 $ 299,505 $ 457,416 $ 501,912 Profit attributable to: Owners of parent $ 119,124 $ 136,427 $ 240,682 $ 238,758 Non-controlling interests of momo 149, , , ,055 Non-controlling interests of momo s subsidiaries (15,809) (6,327) (32,429) (13,669) $ 252,853 $ 267,138 $ 510,379 $ 463,144 Comprehensive income attributable to: Owners of parent $ 108,989 $ 152,682 $ 217,886 $ 258,194 Non-controlling interests of momo 136, , , ,527 Non-controlling interests of momo s subsidiaries (16,484) (6,518) (34,026) (13,809) $ 229,342 $ 299,505 $ 457,416 $ 501,912 Net cash from operating activities $ 126,989 $ 769,834 $ 209,720 $ 687,788 Net cash from investing activities 1,721,364 (1,835,019) 1,757,267 (1,787,295) Net cash from financing activities (1,203,724) (417,498) (1,204,271) (396,872) Effect of exchange rate changes (620) 312 (1,591) 803 Net increase (decrease) in cash $ 644,009 $ (1,482,371) $ 761,125 $ (1,495,576) Dividend paid to non-controlling interests $ (670,016) $ (224,068) $ (670,016) $ (224,068)
22 14. ACQUISITION OF SUBSIDIARIES AND NON-CONTROLLING INTERESTS a. Acquisition of subsidiaries TWM obtained control of TNH due to the change in the members on the Board of Directors of TNH through the election held on February 21, TWM s shareholding remained at 49.9%. TNH mainly engages in building and operating Songshan Cultural and Creative Park BOT (Build-Operate-Transfer) Project. 1) Assets acquired and liabilities assumed TNH Current assets Cash and cash equivalents $ 1,193,252 Others 79,777 Non-current assets Service concession 7,460,415 Others 5,656 Current liabilities (647,681) Non-current liabilities Long-term borrowings (3,285,841) Others (1,339,944) $ 3,465,634 The Group s shareholding in TNH was 49.9% before obtaining control of TNH, at which time the book value and fair value were equivalent. Therefore, the gain and loss arising from re-measurement were not significant. 2) Operating influences of combination The Group s share of operating revenue of TNH was $65,512 thousand and $93,773 thousand and the Group s share of the net loss of TNH was $507 thousand and $4,870 thousand, respectively, for the three months ended June 30 and the period from February 21 to June 30, If the business combination had occurred at the beginning of the fiscal year, the pro forma operating revenue and net loss in the Group s consolidated comprehensive income statement would have been $129,949 thousand and $24,066 thousand, respectively, for the six months ended June 30, The aforementioned pro forma revenue and net loss could not be regarded as the actual operating outcome on the basis that the business combination occurred at the beginning of the year and could not be used to predict the future revenue and net loss. b. Transactions with non-controlling interests Due to WMT s disposal of part of its shareholding in momo in February 2014, WMT s shareholding in momo decreased from 50.64% to 49.93%. The transaction was accounted for as an equity transaction as follows: Cash consideration received $ 142,246 Increase in non-controlling interests due to equity transaction involving subsidiaries (120,420) Other adjustments (3,071) Capital surplus - difference between consideration and carrying amount of subsidiaries shares disposed of $ 18,
23 Due to momo s initial public offering, WMT disposed of part of its shareholding in momo and did not participate in momo s public offering in December 2014; therefore, WMT s capital surplus - difference between consideration and carrying amounts of subsidiaries shares disposed of and capital surplus - changes in equity of subsidiaries increased by $67,210 thousand and $576,872 thousand, respectively. Due to non-proportional investment in FGE s increase in capital in September and October 2014, momo s capital surplus - changes in equity of subsidiaries increased by $74,034 thousand. As the aforementioned transactions did not result in any change of the Group s control over momo and FGE, they were accounted for as equity transactions. 15. PROPERTY, PLANT AND EQUIPMENT Land Buildings Telecommunication Equipment and Machinery Miscellaneous Equipment Construction in Progress and Equipment to be Inspected Total Cost Balance, January 1, 2015 $ 10,366,685 $ 4,947,700 $ 78,863,132 $ 6,979,293 $ 3,985,597 $ 105,142,407 Additions , ,314 5,916,276 6,305,525 Reclassification 37,646 18,968 6,155, ,073 (6,351,900) 51,184 Disposals and retirements (14,300) (10,077) (491,955) (57,884) (637) (574,853) Effect of exchange rate changes - - (4,210) (1,762) - (5,972) Balance, $ 10,390,031 $ 4,956,591 $ 84,749,299 $ 7,273,034 $ 3,549,336 $ 110,918,291 Accumulated depreciation and impairment Balance, January 1, 2015 $ 83,426 $ 1,398,811 $ 51,830,986 $ 4,762,865 $ - $ 58,076,088 Depreciation - 71,947 4,669, ,425-5,255,590 Reclassification - 8, ,683 Disposals and retirements - (4,515) (412,647) (56,266) - (473,428) Effect of exchange rate changes - - (2,104) (1,123) - (3,227) Balance, $ 83,426 $ 1,474,926 $ 56,085,453 $ 5,219,901 $ - $ 62,863,706 Carrying amount, January 1, 2015 $ 10,283,259 $ 3,548,889 $ 27,032,146 $ 2,216,428 $ 3,985,597 $ 47,066,319 Carrying amount, June 30, 2015 $ 10,306,605 $ 3,481,665 $ 28,663,846 $ 2,053,133 $ 3,549,336 $ 48,054,585 Cost Balance, January 1, 2014 $ 8,675,595 $ 4,961,737 $ 73,940,408 $ 6,049,561 $ 3,162,832 $ 96,790,133 Additions 1,717,927 2, , ,470 5,209,625 7,258,046 Acquisition from combination ,232-10,232 Reclassification (13,092) (9,347) 4,384, ,396 (4,832,677) (161,675) Disposals and retirements - - (882,770) (100,537) (4,080) (987,387) Effect of exchange rate changes - - (4,482) (1,967) - (6,449) Balance, June 30, 2014 $ 10,380,430 $ 4,954,451 $ 77,579,164 $ 6,453,155 $ 3,535,700 $ 102,902,900 Accumulated depreciation and impairment Balance, January 1, 2014 $ 83,426 $ 1,260,526 $ 48,470,898 $ 3,989,482 $ - $ 53,804,332 Depreciation - 72,041 4,217, ,023-4,718,876 Acquisition from combination Reclassification - (3,619) (80,643) 15,095 - (69,167) (Continued)
24 Land Buildings Telecommunication Equipment and Machinery Miscellaneous Equipment Construction in Progress and Equipment to be Inspected Total Disposals and retirements $ - $ - $ (729,341) $ (92,690) $ - $ (822,031) Effect of exchange rate changes - - (1,734) (1,028) - (2,762) Balance, June 30, 2014 $ 83,426 $ 1,328,948 $ 51,876,992 $ 4,340,717 $ - $ 57,630,083 Carrying amount, June 30, 2014 $ 10,297,004 $ 3,625,503 $ 25,702,172 $ 2,112,438 $ 3,535,700 $ 45,272,817 (Concluded) a. The estimated useful lives, for the current and comparative years, of significant items of property, plant and equipment are as follows: Buildings Primary buildings Mechanical and electrical equipment Telecommunication equipment and machinery Miscellaneous equipment years 15 years 2-20 years 2-20 years b. The non-cash investing activities of the Group for the six months ended and 2014 were as follows: For the Six Months Ended June Acquisition of property, plant and equipment $ 6,305,525 $ 7,258,046 Changes in other payables (190,089) (734,806) Changes in provisions (32,080) (46,544) Cash paid for acquisition of property, plant and equipment $ 6,083,356 $ 6,476, INVESTMENT PROPERTIES 2014 June 30, 2014 Land Cost $ 224,260 $ 261,905 $ 248,160 Buildings Cost $ 118,498 $ 137,465 $ 130,715 Accumulated depreciation 37,995 45,162 41,373 Carrying amount $ 80,503 $ 92,303 $ 89,342 Total investment properties $ 304,763 $ 354,208 $ 337,502 Fair value $ 824,160 $ 1,113,847 $ 744,587 Capitalization rate 0.76%-4.20% 1.06%-4.20% 1.19%-3.12% Properties were reclassified from property, plant and equipment to investment property since the properties were no longer used by the Group and it was decided to put such properties for lease
25 Fair value of an investment property was measured by Level 3 inputs, using the income approach, comparative approach, and cost approach by HomeBan Appraisers Joint Firm. 17. INTANGIBLE ASSETS The cost, amortization, and impairment of intangible assets of the Group for the six months ended June 30, 2015 and 2014, were as follows: Cost Concession License Concessions Service Concession Goodwill Computer Software Customer Relationship Other Intangible Assets Operating Rights Trademarks Others Total Balance, January 1, 2015 $ 39,291,000 $ 7,736,128 $ 15,845,930 $ 2,484,186 $ 2,849,197 $ 1,382,000 $ 2,517,866 $ 5,217 $ 72,111,524 Addition 3,433, ,324-69, ,824,018 Disposals and retirements (344 ) (195,108) - - (5,147) (200,599) Adjustment and reclassification - (69,039) - 158, ,102 Effect of exchange rate changes (531 ) (70 ) (601 ) Balance, $ 42,724,375 $ 7,988,413 $ 15,845,930 $ 2,710,771 $ 2,654,089 $ 1,382,000 $ 2,517,866 $ - $ 75,823,444 Accumulated amortization and impairment Balance, January 1, 2015 $ 7,785,003 $ 138,833 $ - $ 1,852,678 $ 1,160,171 $ - $ 778 $ 5,217 $ 10,942,680 Amortization 994,303 87, ,780 68, ,360,949 Disposals and retirements (344 ) (195,108) - - (5,147) (200,599) Effect of exchange rate changes (300 ) (70 ) (370 ) Balance, $ 8,779,306 $ 226,400 $ - $ 2,062,814 $ 1,033,263 $ - $ 877 $ - $ 12,102,660 Carrying amount, January 1, 2015 $ 31,505,997 $ 7,597,295 $ 15,845,930 $ 631,508 $ 1,689,026 $ 1,382,000 $ 2,517,088 $ - $ 61,168,844 Carrying amount, $ 33,945,069 $ 7,762,013 $ 15,845,930 $ 647,957 $ 1,620,826 $ 1,382,000 $ 2,516,989 $ - $ 63,720,784 Cost Balance, January 1, 2014 $ 39,291,000 $ - $ 15,845,930 $ 2,020,208 $ 2,849,197 $ 1,382,000 $ 2,517,860 $ 5,107 $ 63,911,302 Addition - 67,230-75, ,697 Acquisition from combination - 7,460, ,460,415 Disposals and retirements (1,119 ) (1,119) Adjustment and reclassification - (87,874) - 78, (9,388) Effect of exchange rate changes (565 ) (74 ) (639 ) Balance, June 30, 2014 $ 39,291,000 $ 7,439,771 $ 15,845,930 $ 2,172,471 $ 2,849,197 $ 1,382,000 $ 2,517,866 $ 5,033 $ 71,503,268 Accumulated amortization and impairment Balance, January 1, 2014 $ 6,542,455 $ - $ - $ 1,502,406 $ 1,023,771 $ - $ 579 $ 4,820 $ 9,074,031 Amortization 426,543 56, ,439 68, ,460 Disposals and retirements (1,119 ) (1,119) Effect of exchange rate changes (288 ) (74 ) (362 ) Balance, June 30, 2014 $ 6,968,998 $ 56,891 $ - $ 1,668,438 $ 1,091,971 $ - $ 679 $ 5,033 $ 9,792,010 Carrying amount, June 30, 2014 $ 32,322,002 $ 7,382,880 $ 15,845,930 $ 504,033 $ 1,757,226 $ 1,382,000 $ 2,517,187 $ - $ 61,711,258 The estimated useful lives for the current and comparative periods are as follows: Concession license Service concession Computer software Customer relationship Trademarks years years 2-10 years 20 years 10 years a. Service concession On January 15, 2009, TNH signed the BOT contract with the Department of Cultural Affairs, Taipei City Government. Under the BOT contract, TNH obtained the right to build and operate the development project on the location of old Songshan Tobacco Plant. The development concession premium of superficies is amortized on a straight-line basis during the contract period, and the construction costs are amortized on a straight-line basis from the completion date of the construction to the BOT contract expiry date
26 b. Customer relationship, trademarks, and operating rights The Group measures the fair value of the acquired assets when acquisition occurs, and identifies the fair value and amortization periods of the intangible assets which conform to materiality and related standards. Although some of the intangible assets such as operating rights and trademarks have a legal useful life, which can be extended, the Group regards these assets as intangible assets with indefinite useful life. 1) On April 17, 2007, TFN, one of TWM s wholly-owned subsidiaries, acquired more than 50% of the former Taiwan Fixed Network Co., Ltd. (the former TFN) through a public tender offer. TWM divided the former TFN and its subsidiaries into two cash-generating units: Fixed network service and cable television business. Accordingly, customer relationship and operating rights are identified as major intangible assets. 2) On September 1, 2010, TFNM, one of TWM s wholly-owned subsidiaries, acquired 55% of TKT. On August 12, 2011, TFNM acquired 45% of TKT. TWM measured the fair value of the acquired assets and viewed TKT s wireless services as one cash-generating unit. Accordingly, trademarks and customer relationship are identified as major intangible assets. 3) On July 13, 2011, WMT, one of TWM s wholly-owned subsidiaries, acquired more than 50% of momo. TWM measured the fair value of the acquired assets and viewed momo s retail business as one cash-generating unit. Accordingly, trademarks are identified as major intangible assets. c. Goodwill The carrying amounts of goodwill allocated to the above units were as follows: 2014 June 30, 2014 Mobile communication service $ 7,238,758 $ 7,238,758 $ 7,238,758 Fixed network service 357, , ,970 Cable television business 3,269,636 3,269,636 3,269,636 Retail business 4,979,566 4,979,566 4,979,566 d. Impairment of assets $ 15,845,930 $ 15,845,930 $ 15,845,930 In conformity with IAS 36 Impairment of Assets, the Group identified mobile communication service, fixed network service, the cable television business, and the retail business as the smallest identifiable units which can generate cash inflows independently. The recoverable amounts of the operating assets and intangible assets were evaluated by business type, and the critical assumptions used for this evaluation were as follows: 1) Mobile communication service a) Assumptions on cash flows The five-year cash flow projections were estimated on the basis of previous experience, actual operating results, and the financial budget
27 b) Assumptions on operating revenues After taking changes in the telecom industry and competitive landscape into consideration, operating revenues were estimated on the basis of the projected changes in subscriber numbers, minutes of incoming and outgoing calls, and average revenue per minute. c) Assumptions on operating costs and expenses The estimates of activation commissions and customer retention costs were based on the new customers obtained and existing customers maintained. The estimates of remaining costs and expenses were based on the cost drivers of each item. d) Assumptions on discount rate For the years ended 2014 and 2013, the discount rate used to calculate the asset recoverable amounts of TWM was 5.56% and 4.68%, respectively. 2) Fixed network service a) Assumptions on cash flows The five-year cash flow projections were made on the basis of previous experience, actual operating results, and the financial budget. b) Assumptions on operating revenues After taking into consideration the changes in the telecom industry and TWM s growth of operations, the operating revenues were estimated based on the demand for the various types of data transmission and broadband volume. c) Assumptions on operating costs and expenses The estimates of operating costs and expenses were based on the cost drivers of each cost and expense items. d) Assumptions on discount rate For the years ended 2014 and 2013, the discount rates were 6.17% and 5.31%. 3) Cable television business a) Assumptions on cash flows The five-year cash flow projections were estimated on the basis of previous experience, actual operating results, and the financial budget. b) Assumptions on operating revenues After taking changes in the cable television industry and competitive landscape into consideration, operating revenues were estimated on the basis of the projected changes in subscriber numbers and average revenue per subscriber
28 c) Assumptions on operating costs and expenses The estimates of cost of commissions, customer service costs, and bill processing costs were based on the projected changes in subscriber numbers. The estimates of remaining costs and expenses were based on the actual costs and expenses as a proportion of operating revenues. d) Assumptions on discount rate The discount rates used to calculate the asset recoverable amounts for each system operator ranged from 4.38% to 4.92% and from 8.28% to 8.38% for the years ended 2014 and 2013, respectively. 4) Retail business a) Assumptions on cash flows The five-year cash flow projections were estimated on the basis of previous experience, actual operating results, and the financial budget. b) Assumptions on operating revenues After taking into consideration the changes in the retail business industry and competitiveness of the market, the operating revenues were estimated based on the classification and the average price of commodities, and the degree of the contribution of the customers. c) Assumptions on operating costs and expenses The costs and expenses were based on the actual costs and expenses as a proportion of operating revenues. d) Assumptions on discount rate For the years ended 2014 and 2013, the discount rates in calculating the asset recoverable amounts were 15.55% and 7.29%, respectively. Based on the key assumptions of each cash-generating unit, the Group s management believes that the carrying amounts of these operating assets and intangible assets will not exceed their recoverable amounts even if there are any reasonable changes in the critical assumptions used to estimate recoverable amounts. Thus, there was no impairment of intangible assets for the years ended 2014 and 2013, and no significant evidence indicating impairment of intangible assets as of. 18. OTHER NON-CURRENT ASSETS 2014 June 30, 2014 Long-term accounts receivable $ 5,001,582 $ 4,717,815 $ 3,916,604 Refundable deposits 605, , ,421 Prepayments for equipment 67,390 78, ,219 Others 515, , ,599 $ 6,190,620 $ 5,888,820 $ 5,158,
29 19. SHORT-TERM BORROWINGS AND SHORT-TERM NOTES AND BILLS PAYABLE a. Short-term borrowings 2014 June 30, 2014 Unsecured loans-financial institutions $ 12,650,000 $ 18,900,000 $ 12,200,000 Secured loans-financial institutions (related parties) ,276 $ 12,650,000 $ 18,900,000 $ 12,371,276 Annual interest rate: Unsecured loans 0.83%-1.14% 0.83%-1.08% 0.82%-1.08% Secured loans % b. Short-term notes and bills payable 2014 June 30, 2014 Short-term notes and bills payable $ 7,400,000 $ 5,600,000 $ 1,300,000 Less: Discount on short-term notes and bills payable (9,239) (6,969) (887) $ 7,390,761 $ 5,593,031 $ 1,299,113 Annual interest rate 0.808%-0.99% 0.868%-0.915% 0.803% For information on time deposits pledged as collateral for bank loans and commitments, please refer to Note 35 and Note 36 for details. 20. ADVANCE RECEIPTS 2014 June 30, 2014 Advance receipts from customers $ 1,943,108 $ 2,100,001 $ 2,126,628 Deferred customer loyalty revenues 65,239 58,172 55,726 Others 136, , ,196 $ 2,144,694 $ 2,264,612 $ 2,286,550 a. In accordance with the NCC s policy, TWM entered into a contract with First Commercial Bank Co., Ltd., which provides a performance guarantee for advance receipts from prepaid cards and electronic gift certificates amounting to $882,401 thousand and $13,054 thousand, respectively, as of June 30, b. In accordance with the NCC s policy, TFN entered into a contract with First Commercial Bank Co., Ltd., which provides a performance guarantee for advance receipts from International Direct Dialing (IDD) calling cards amounting to $38 thousand as of
30 c. In accordance with the NCC s policy, cable television companies should provide a performance deposit based on a certain proportion of the advance receipts for a prepaid period. As of, the cable television companies had provided $56,073 thousand as a performance deposit, classified as other non-current financial assets. d. In accordance with the Ministry of Economic Affairs policy, momo entered into a contract with First Commercial Bank Co., Ltd., which provides a performance guarantee for advance receipts from prepaid bonus amounting to $24,936 thousand as of. e. In accordance with the NCC s and the Ministry of Economic Affairs policies, TKT entered into a contract with Mega International Commercial Bank Co., Ltd., which provides a performance guarantee for advance receipts from prepaid music cards amounting to $1,503 thousand as of. 21. BONDS PAYABLE 2014 June 30, rd domestic unsecured bonds $ 8,997,070 $ 8,996,692 $ 8,996,314 4th domestic unsecured bonds 5,798,046 5,797,601 5,797,156 a. 3rd domestic unsecured bonds $ 14,795,116 $ 14,794,293 $ 14,793,470 On December 20, 2012, TWM authorized Hua Nan Commercial Bank as a trustee to issue $9,000,000 thousand of seven-year 3rd domestic unsecured bonds, each having a face value of $10,000 thousand and a coupon rate of 1.34% per annum, with simple interest due annually. Repayment will be made in the sixth and seventh years with equal installments, i.e., $4,500,000 thousand. As of, the amount of unamortized bond issue cost was $2,930 thousand. Future repayments of the above-mentioned corporate bonds are as follows: Year Amount 2018 $ 4,500, ,500,000 b. 4th domestic unsecured bonds $ 9,000,000 On April 25, 2013, TWM authorized Hua Nan Commercial Bank as a trustee to issue $5,800,000 thousand of five-year 4th domestic unsecured bonds, each having a face value of $10,000 thousand and a coupon rate of 1.29% per annum, with simple interest due annually. Repayment will be made in the fourth and fifth years with equal installments, i.e., $2,900,000 thousand. As of, the amount of unamortized bond issue cost was $1,954 thousand
31 Future repayments of the above-mentioned corporate bonds are as follows: Year Amount 2017 $ 2,900, ,900,000 $ 5,800, LONG-TERM BORROWINGS 2014 June 30, 2014 Unsecured loans-financial institutions $ 16,570,000 $ 12,000,000 $ 13,000,000 Secured loans-financial institutions 3,286,436 3,390,544 3,494,653 Less: Current portion (11,208,218) (2,208,218) (2,208,218) $ 8,648,218 $ 13,182,326 $ 14,286,435 Annual interest rate: Unsecured loans 1.05%-2.25% 1.05%-1.095% 1.05%-1.08% Secured loans % % % a. Unsecured loans The Group entered into credit facility agreements with a group of banks for mid-term operating capital. The facilities last 2 to 7 years from the date of drawing and from the date of contracting, respectively, and the interests are paid periodically. The credit facilities are subject to covenants regarding debt ratio and interest protection multiples during the facility period. b. Secured loans On January 22, 2010, TNH entered into a syndicated loan agreement with a group of nine banks, including Bank of Taiwan and Taipei Fubon Bank for the investment under the BOT contract. The aggregate credit and guarantee amount were up to $3,565,000 thousand for 7 years, including the grace period of 4 years, with interest payments on a monthly basis. In accordance with the loan agreement, the regular financial covenants, e.g. current ratio, equity ratio, and interest protection multiples, must be complied with during the facility period. For property under the BOT contract and its superficies that have been pledged as collateral, please refer to Note 35 for details. 23. PROVISIONS 2014 June 30, 2014 Restoration $ 1,135,273 $ 1,105,662 $ 1,058,369 Decommissioning 87,061 63,246 40,595 Warranties 73,765 62,524 46,960 $ 1,296,099 $ 1,231,432 $ 1,145,924 (Continued)
Taiwan Mobile Co., Ltd. and Subsidiaries
Taiwan Mobile Co., Ltd. and Subsidiaries Consolidated Financial Statements for the Nine Months Ended and and Independent Auditors Review Report TAIWAN MOBILE CO., LTD. AND SUBSIDIARIES CONSOLIDATED BALANCE
More informationTaiwan Mobile Co., Ltd. and Subsidiaries
Taiwan Mobile Co., Ltd. and Subsidiaries Consolidated Financial Statements for the Nine Months Ended and and Independent Auditors Review Report TAIWAN MOBILE CO., LTD. AND SUBSIDIARIES CONSOLIDATED BALANCE
More informationTaiwan Mobile Co., Ltd. Financial Statements for the Years Ended December 31, 2009 and 2008 and Independent Auditors Report
Taiwan Mobile Co., Ltd. Financial Statements for the Years Ended December 31, 2009 and 2008 and Independent Auditors Report INDEPENDENT AUDITORS REPORT The Board of Directors and Shareholders Taiwan Mobile
More informationGintech Energy Corporation and Subsidiaries
Gintech Energy Corporation and Subsidiaries Consolidated Financial Statements for the Three Months Ended and 2016 and Independent Auditors Review Report INDEPENDENT AUDITORS REVIEW REPORT The Board of
More informationGintech Energy Corporation and Subsidiaries
Gintech Energy Corporation and Subsidiaries Consolidated Financial Statements for the Nine Months Ended and and Independent Auditors Review Report INDEPENDENT AUDITORS REVIEW REPORT The Board of Directors
More information2013 Annual General Shareholders Meeting. Agenda. (Translation) June 21, 2013
Taiwan Mobile Co., Ltd. 2013 Annual General Shareholders Meeting Agenda (Translation) June 21, 2013 Note to Readers: If there is any conflict between the English version and the original Chinese version
More informationPou Chen Corporation and Subsidiaries
Pou Chen Corporation and Subsidiaries Consolidated Financial Statements for the Three Months Ended and and Independent Auditors Review Report INDEPENDENT AUDITORS REVIEW REPORT The Board of Directors and
More informationTaiwan High Speed Rail Corporation. Financial Statements for the Three Months Ended March 31, 2018 and 2017 and Independent Auditors Review Report
Taiwan High Speed Rail Corporation Financial Statements for the Three Months Ended and and Independent Auditors Review Report The engagement partners on the reviews resulting in this independent auditors
More informationNAN YA PRINTED CIRCUIT BOARD CORPORATION AND SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS MARCH 31, 2014 AND 2015 (With Independent Accountants
NAN YA PRINTED CIRCUIT BOARD CORPORATION AND SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS MARCH 31, AND 2015 (With Independent Accountants Review Report Thereon) Independent Accountants Review Report
More informationAdvantech Co., Ltd. and Subsidiaries
Advantech Co., Ltd. and Subsidiaries Consolidated Financial Statements for the Nine Months Ended 2018 and and Independent Auditors Review Report INDEPENDENT AUDITORS REVIEW REPORT The Board of Directors
More information2012 Annual General Shareholders Meeting. Agenda. (Translation) June 22, 2012
Taiwan Mobile Co., Ltd. 2012 Annual General Shareholders Meeting Agenda (Translation) June 22, 2012 Notice to Readers: If there is any conflict between the English version and the original Chinese version
More informationNAN YA PRINTED CIRCUIT BOARD CORPORATION AND SUBSIDIARIES CONSOLIDATED INTERIM FINANCIAL STATEMENTS March 31, 2013 and 2014 (With Independent
NAN YA PRINTED CIRCUIT BOARD CORPORATION AND SUBSIDIARIES CONSOLIDATED INTERIM FINANCIAL STATEMENTS and 2014 (With Independent Accountants Review Report Thereon) Independent Accountants Review Report To
More informationTAIWAN SEMICONDUCTOR CO., LTD. AND SUBSIDIARIES Consolidated Financial Statements June 30, 2015 and 2014 (With Independent Auditors Report Thereon)
TAIWAN SEMICONDUCTOR CO., LTD. AND SUBSIDIARIES Consolidated Financial Statements 2015 and (With Independent Auditors Report Thereon) Independent Auditors Review Report The Board of Directors TAIWAN SEMICONDUCTOR
More informationPOYA INTERNATIONAL CO., LTD.
POYA INTERNATIONAL CO., LTD. FINANCIAL STATEMENTS AND REVIEW REPORT OF INDEPENDENT ACCOUNTANTS JUNE 30, 2018 AND 2017 ------------------------------------------------------------------------------------------------------------------------------------
More informationFORMOSA PLASTICS CORPORATION AND SUBSIDIARY CONSOLIDATED FINANCIAL STATEMENTS
FORMOSA PLASTICS CORPORATION AND SUBSIDIARY CONSOLIDATED FINANCIAL STATEMENTS MARCH 31, AND (With Independent Accountants Review Report Thereon) Consolidated financial statements as of and are reviewed
More informationHiwin Technologies Corporation and Subsidiaries
Hiwin Technologies Corporation and Subsidiaries Consolidated Financial Statements for the Six Months Ended June 30, 2014 and 2013 and Independent Accountants Review Report HIWIN TECHNOLOGIES CORPORATION
More informationWEIKENG INDUSTRIAL CO., LTD. AND SUBSIDIARIES Consolidated Financial Statements June 30, 2016 and 2015 (With Independent Auditors Review Thereon)
WEIKENG INDUSTRIAL CO., LTD. AND SUBSIDIARIES Consolidated Financial Statements 2016 and (With Independent Auditors Review Thereon) Independent Auditors Review Report The Board of Directors Weikeng Industrial
More informationAdvantech Co., Ltd. and Subsidiaries
Advantech Co., Ltd. and Subsidiaries Consolidated Financial Statements for the Three Months Ended March 31, 2018 and 2017 and Independent Auditors Review Report INDEPENDENT AUDITORS REVIEW REPORT The Board
More informationHannStar Display Corporation and Subsidiaries
HannStar Display Corporation and Subsidiaries Consolidated Financial Statements for the years ended December 31, 2015 and 2014 Independent Auditors Audit Report REPORT OF INDEPENDENT ACCOUNTANTS TRANSLATED
More informationSunplus Technology Company Limited and Subsidiaries
Sunplus Technology Company Limited and Subsidiaries Consolidated Financial Statements for the Six Months Ended and and Independent Auditors Review Report INDEPENDENT AUDITORS REVIEW REPORT The Board of
More information(English Translation of Financial Report Originally Issued in Chinese) CAPITAL SECURITIES CORPORATION AND SUBSIDIARIES
(English Translation of Financial Report Originally Issued in Chinese) CAPITAL SECURITIES CORPORATION AND SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS JUNE 30, 2017 AND 2016 AND INDEPENDENT ACCOUNTANTS
More informationGreatek Electronics Inc. Financial Statements for the Six Months Ended June 30, 2016 and 2015 and Independent Auditors Review Report
Greatek Electronics Inc. Financial Statements for the Six Months Ended and and Independent Auditors Review Report INDEPENDENT AUDITORS REVIEW REPORT The Board of Directors and Shareholders Greatek Electronics
More informationTaiwan Semiconductor Manufacturing Company Limited
Taiwan Semiconductor Manufacturing Company Limited Parent Company Only Financial Statements for the Years Ended 2015 and 2014 and Independent Auditors Report - 99 - - 100 - - 101 - Taiwan Semiconductor
More informationSunplus Technology Company Limited and Subsidiaries
Sunplus Technology Company Limited and Subsidiaries Consolidated Financial Statements for the Nine Months Ended and and Independent Auditors Review Report INDEPENDENT AUDITORS REVIEW REPORT The Board of
More informationADVANCED CERAMIC X CORPORATION
Stock Code:3152 ADVANCED CERAMIC X CORPORATION Financial Statements and Independent Auditors Review Report For the Six Months Ended June 30, 2018 and 2017 Address:NO.16, Tzu Chiang Road, Hsinchu Industrial
More informationYageo Corporation and Subsidiaries. Consolidated Financial Statements for the Years Ended December 31, 2015 and 2014 and Independent Auditors Report
Yageo Corporation and Subsidiaries Consolidated Financial Statements for the Years Ended December 31, 2015 and 2014 and Independent Auditors Report INDEPENDENT AUDITORS REPORT The Board of Directors and
More informationPOU CHEN CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED JUNE 30, AND (In Thousands of New Taiwan Dollars, Unless Stated Otherwise) (Reviewed, Not Audited)
More informationWowprime Co., Ltd. and Subsidiaries. Consolidated Financial Statements for the Years Ended December 31, 2015 and 2014 and Independent Auditors Report
Wowprime Co., Ltd. and Subsidiaries Consolidated Financial Statements for the Years Ended, 2015 and 2014 and Independent Auditors Report INDEPENDENT AUDITORS REPORT The Board of Directors and Stockholders
More informationSENAO NETWORKS, INC. AND SUBSIDIARIES
SENAO NETWORKS, INC. AND SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS AND REVIEW REPORT OF INDEPENDENT ACCOUNTANTS SEPTEMBER 30, 2015 AND 2014 ------------------------------------------------------------------------------------------------------------------------------------
More informationPowerchip Technology Corporation (Formerly Powerchip Semiconductor Corporation)
Powerchip Technology Corporation (Formerly Powerchip Semiconductor Corporation) Financial Statements for the Six Months Ended June 30, 2011 and 2010 and Independent Auditors Report INDEPENDENT AUDITORS
More information(Continued) ~3~ March 31, 2017 December 31, 2016 March 31, 2016 Assets Notes AMOUNT % AMOUNT % AMOUNT % Current assets
Current assets DAVICOM SEMICONDUCTOR, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (Expressed in thousands of New Taiwan dollars) (The consolidated balance sheets as of March 31,2017 and 2016 are
More informationChap. 8 Financial Report
Taiwan Mobile 79 Chap. 8 Financial Report Financial status Balance sheet The Company s condensed balance sheets for the past five years and explanation of significant changes are as follows: 1. Current
More informationChipMOS TECHNOLOGIES INC. AND SUBSIDIARIES
ChipMOS TECHNOLOGIES INC. AND SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS AND REVIEW REPORT OF INDEPENDENT ACCOUNTANTS FOR THE THREE MONTHS ENDED MARCH 31, 2018 AND ------------------------------------------------------------------------------------------------------------------------------------
More informationPOU CHEN CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS FOR THE NINE MONTHS ENDED SEPTEMBER 30, AND (In Thousands of New Taiwan Dollars, Unless Stated Otherwise) (Reviewed, Not
More informationFinancial Report. Translation adjustments 7,666 34,450 (1,631) 3,240 3,860
Ch. 8 Financial Status Condensed Financial Statements for the Past Five Years 1. Balance sheet The Company s condensed balance sheet for the past five years and explanation of significant changes are as
More informationStock code: Company Address: No.88, Bixiu Road, Qiaotou District, Kaohsiung City Telephone:
Stock code: 6504 NAN LIU Enterprise Co., Ltd. and Subsidiaries Consolidated Financial Statements for the Three Months Ended March 31, 2017 and 2016 and Independent Accountants Review Report Company Address:
More informationAdvantech Co., Ltd. and Subsidiaries
Advantech Co., Ltd. and Subsidiaries Consolidated Financial Statements for the Three Months Ended March 31, 2015 and 2014 and Independent Auditors Review Report INDEPENDENT AUDITORS REVIEW REPORT The Board
More informationTAIWAN SEMICONDUCTOR CO., LTD. AND SUBSIDIARIES Consolidated Financial Statements December 31, 2015 and 2014 (With Independent Auditors Report
TAIWAN SEMICONDUCTOR CO., LTD. AND SUBSIDIARIES Consolidated Financial Statements 2015 and 2014 (With Independent Auditors Report Thereon) Independent Auditors Report The Board of Directors TAIWAN SEMICONDUCTOR
More informationEVA AIRWAYS CORP. Parent-Company-Only Financial Statements December 31, 2015 and 2014 (With Independent Auditors' Report Thereon)
Parent-Company-Only Financial Statements December 31, 2015 and 2014 (With Independent Auditors' Report Thereon) Address: No. 376, Sec. 1, Hsin-nan Road, Luchu Dist., Taoyuan City, Taiwan Telephone No.:
More informationTAIWAN SEMICONDUCTOR CO., LTD. AND SUBSIDIARIES Consolidated Financial Statements December 31, 2014 and 2013 (With Independent Auditors Report
TAIWAN SEMICONDUCTOR CO., LTD. AND SUBSIDIARIES Consolidated Financial Statements 2014 and 2013 (With Independent Auditors Report Thereon) ~1~ Independent Auditors Report The Board of Directors TAIWAN
More informationFar Eastern New Century Corporation and Subsidiaries
Far Eastern New Century Corporation and Subsidiaries Consolidated Financial Statements for the Six Months Ended and 2014 and Independent Auditors Review Report INDEPENDENT AUDITORS REVIEW REPORT The Board
More informationCathay Securities Investment Trust Co., Ltd. Notes to Financial Statements 31 December 2013 and 2012 (Amounts in thousands except for share and per share data and unless otherwise stated) 1. Organization
More informationWAN HAI LINES LTD. AND ITS SUBSIDIARIES
Stock Code:2615 (English Translation of Consolidated Financial Statements and Report Originally Issued in Chinese) CONSOLIDATED INTERIM FINANCIAL STATEMENTS MARCH 31, 2017 AND 2016 (With Independent Auditors
More informationGCS HOLDINGS, INC. AND SUBSIDIARY
GCS HOLDINGS, INC. AND SUBSIDIARY CONSOLIDATED FINANCIAL STATEMENTS AND REVIEW REPORT OF INDEPENDENT ACCOUNTANTS JUNE 30, 2013 AND REVIEW REPORT OF INDEPENDENT ACCOUNTANTS To the Board of Directors and
More informationSunplus Technology Company Limited and Subsidiaries
Sunplus Technology Company Limited and Subsidiaries Consolidated Financial Statements for the Years Ended, 2015 and 2014 and Independent Auditors Report INDEPENDENT AUDITORS REPORT The Board of Directors
More informationPHARMAENGINE, INC. AND ITS SUBSIDIARY CONSOLIDATED FINANCIAL STATEMENTS AND REVIEW REPORT OF INDEPENDENT ACCOUNTANTS MARCH 31, 2018 AND 2017
PHARMAENGINE, INC. AND ITS SUBSIDIARY CONSOLIDATED FINANCIAL STATEMENTS AND REVIEW REPORT OF INDEPENDENT ACCOUNTANTS MARCH 31, 2018 AND 2017 For the convenience of readers and for information purpose only,
More informationTECO IMAGE SYSTEMS CO., LTD. AND SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS AND REVIEW REPORT OF INDEPENDENT ACCOUNTANTS JUNE 30, 2016 AND 2015
TECO IMAGE SYSTEMS CO., LTD. AND SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS AND REVIEW REPORT OF INDEPENDENT ACCOUNTANTS JUNE 30, 2016 AND 2015 -----------------------------------------------------------------------------------------------------------------------------
More information(English Translation) FUBON INSURANCE CO., LTD. AND SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS
(English Translation) CONSOLIDATED FINANCIAL STATEMENTS June 30, 2015 AND 2014 AND Independent Auditors Report Thereon Address: No. 237, Sec. 1, Chien Kuo S. Road, Taipei, Taiwan Telephone: 886-2-2706-7890
More information(English Translation of Financial Report Originally Issued in Chinese) WISTRON CORPORATION PARENT-COMPANY-ONLY FINANCIAL STATEMENTS December 31, 2014
(English Translation of Financial Report Originally Issued in Chinese) PARENT-COMPANY-ONLY FINANCIAL STATEMENTS December 31, 2014 and 2015 (With Independent Auditors Report Thereon) (English Translation
More informationTAIWAN SEMICONDUCTOR CO., LTD. AND SUBSIDIARIES
TAIWAN SEMICONDUCTOR CO., LTD. AND SUBSIDIARIES Consolidated Financial Statements 2013 and (With Independent Auditors Report Thereon) The accompanying financial statements are not intended only to present
More informationHannStar Display Corporation and Subsidiaries
HannStar Display Corporation and Subsidiaries Consolidated Financial Statements for the years ended December 31, 2014 and 2013 Independent Auditors Audit Report REPORT OF INDEPENDENT ACCOUNTANTS TRANSLATED
More informationHON HAI PRECISION INDUSTRY CO., LTD. AND SUBSIDIARIES
HON HAI PRECISION INDUSTRY CO., LTD. AND SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS AND REVIEW REPORT OF INDEPENDENT ACCOUNTANTS JUNE 30, 2014 AND 2013 ------------------------------------------------------------------------------------------------------------------------------------
More informationCTCI ADVANCED SYSTEMS INC. AND SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS AND REPORT OF INDEPENDENT ACCOUNTANTS MARCH 31, 2018 AND 2017
CTCI ADVANCED SYSTEMS INC. AND SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS AND REPORT OF INDEPENDENT ACCOUNTANTS MARCH 31, 2018 AND 2017 Notice to readers This English version handbook is a summary
More informationAdvantech Co., Ltd. and Subsidiaries
Advantech Co., Ltd. and Subsidiaries Consolidated Financial Statements for the Six Months Ended, 2016 and 2015 and Independent Auditors Review Report INDEPENDENT AUDITORS REVIEW REPORT The Board of Directors
More informationDR. WU SKINCARE CO., LTD. AND SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS AND REVIEW REPORT OF INDEPENDENT ACCOUNTANTS DECEMBER 31, 2017 AND 2016
DR. WU SKINCARE CO., LTD. AND SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS AND REVIEW REPORT OF INDEPENDENT ACCOUNTANTS DECEMBER 31, 2017 AND 2016 For the convenience of readers and for information purpose
More informationOPTO TECH CORPORATION AND SUBSIDIARIES
OPTO TECH CORPORATION AND SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS AND REVIEW REPORT OF INDEPENDENT ACCOUNTANTS SEPTEMBER 30, 2018 AND 2017 ------------------------------------------------------------------------------------------------------------------------------------
More informationBank SinoPac. Financial Statements for the Years Ended December 31, 2013 and 2012 and Independent Auditors Report
Bank SinoPac Financial Statements for the Years Ended 2013 and and Independent Auditors Report INDEPENDENT AUDITORS REPORT The Board of Directors and Stockholders Bank SinoPac We have audited the accompanying
More informationAdvantech Co., Ltd. Financial Statements for the Six Months Ended June 30, 2006 and 2005 and Independent Auditors Report
Advantech Co., Ltd. Financial Statements for the Six Months Ended June 30, 2006 and 2005 and Independent Auditors Report INDEPENDENT AUDITORS REPORT The Board of Directors and Shareholders Advantech Co.,
More information(English Translation of Financial Report Originally Issued in Chinese) EMERGING DISPLAY TECHNOLOGIES CORP. AND SUBSIDIARIES
(English Translation of Financial Report Originally Issued in Chinese) EMERGING DISPLAY TECHNOLOGIES CORP. AND SUBSIDIARIES For the nine months ended September 30, 2017 and 2016 (With Independent Auditors
More informationCONSOLIDATED FINANCIAL STATEMENTS. With Independent Auditors Review Report For the Six Months Ended June 30, 2018 and 2017
Stock Code:2382 (English Translation of Consolidated Financial Statements and Report Originally Issued in Chinese) CONSOLIDATED FINANCIAL STATEMENTS With Independent Auditors Review Report For the Six
More informationPowertech Technology Inc. and Subsidiaries
Powertech Technology Inc. and Subsidiaries Consolidated Financial Statements for the Six Months Ended and and Independent Auditors Review Report INDEPENDENT AUDITORS REVIEW REPORT The Board of Directors
More informationOPTO TECH CORPORATION FINANCIAL STATEMENTS AND REPORT OF INDEPENDENT ACCOUNTANTS MARCH 31, 2009 AND 2008
OPTO TECH CORPORATION FINANCIAL STATEMENTS AND REPORT OF INDEPENDENT ACCOUNTANTS MARCH 31, 2009 AND 2008 For the convenience of readers and for information purpose only, the auditors report and the accompanying
More informationJIH SUN INTERNATIONAL BANK, Ltd. FINANCIAL STATEMENTS DECEMBER 31, 2017 AND 2016 AND INDEPENDENT AUDITOR S REPORT
FINANCIAL STATEMENTS DECEMBER 31, 2017 AND 2016 AND INDEPENDENT AUDITOR S REPORT Address: 1F, No. 10, Section 1, Chung Ching South Road, Taipei, Taiwan, R.O.C. Telephone: (8862)-2561-5888 The independent
More informationConsolidated Statement of Financial Position
Consolidated Statement of Financial Position March 31 April 1 (amounts in millions of Canadian dollars) 2018 2018 2017 Assets Cash and cash equivalents $ 504.3 $ 611.5 $ 504.7 Accounts receivable 480.8
More informationYFY Inc. and Subsidiaries. Consolidated Financial Statements for the Six Months Ended June 30, 2018 and 2017 and Independent Auditors Review Report
YFY Inc. and Subsidiaries Consolidated Financial Statements for the Six Months Ended 2018 and and Independent Auditors Review Report INDEPENDENT AUDITORS REVIEW REPORT The Board of Directors and Shareholders
More informationTaiwan Semiconductor Manufacturing Company Limited and Subsidiaries
Taiwan Semiconductor Manufacturing Company Limited and Subsidiaries Consolidated Financial Statements for the Years Ended and and Independent Auditors Report REPRESENTATION LETTER The entities that are
More informationTRANSCEND INFORMATION, INC. AND SUBSIDIARIES
TRANSCEND INFORMATION, INC. AND SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS AND REPORT OF INDEPENDENT ACCOUNTANTS FOR THE YEARS ENDED DECEMBER 31, 2012 AND 2011 ------------------------------------------------------------------------------------------------------------------------------------
More informationFORM 6 K CHUNGHWA TELECOM CO LTD CHT. Filed: August 31, 2006 (period: August 31, 2006)
FORM 6 K CHUNGHWA TELECOM CO LTD CHT Filed: August 31, 2006 (period: August 31, 2006) Report of foreign issuer rules 13a 16 and 15d 16 of the Securities Exchange Act 1934 Act Registration No. 1 31731 SECURITIES
More informationNeo Solar Power Corp. and Subsidiaries
Neo Solar Power Corp. and Subsidiaries Consolidated Financial Statements for the Three Months Ended and and Independent Auditors Review Report NEO SOLAR POWER CORP. AND SUBSIDIARIES CONSOLIDATED BALANCE
More informationCurrent assets CHIPBOND TECHNOLOGY CORPORATION PARENT COMPANY ONLY BALANCE SHEETS (EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS) December 31, 2017 December 31, 2016 Assets Notes AMOUNT % AMOUNT % 1100
More informationNeo Solar Power Corp. and Subsidiaries
Neo Solar Power Corp. and Subsidiaries Consolidated Financial Statements for the Years Ended December 31, 2017 and 2016 and Independent Auditors Report DECLARATION OF CONSOLIDATION OF FINANCIAL STATEMENTS
More informationSirtec International Corp. and Subsidiaries
Sirtec International Corp. and Subsidiaries Consolidated Financial Statements for the Years Ended, 2014 and 2013 and Independent Auditors Report INDEPENDENT AUDITORS REPORT The Board of Directors and Stockholders
More informationConcord Securities Co., Ltd. and Subsidiaries
Concord Securities Co., Ltd. and Subsidiaries Consolidated Financial Statements for the Years Ended, 2017 and 2016 and Independent Auditors Report DECLARATION OF CONSOLIDATION OF FINANCIAL STATEMENTS OF
More informationThe Shanghai Commercial & Savings Bank, Ltd. and Subsidiaries
Stock code: 5876 The Shanghai Commercial & Savings Bank, Ltd. and Subsidiaries Consolidated Financial Statements For the Nine Months Ended 2018 and With Independent Auditors Report Address: No. 2, Min
More informationCOSMOS BANK, TAIWAN Interim Financial Statements June 30, 2014 and 2013 (With Auditors Report Thereon)
Interim Financial Statements 2014 and (With Auditors Report Thereon) Independent Auditors Report Cosmos Bank, Taiwan: We have audited the accompanying statements of financial position of Cosmos Bank, Taiwan
More informationCoAdna Holdings, Inc. and Subsidiaries
CoAdna Holdings, Inc. and Subsidiaries Consolidated Financial Statements for the Years Ended December 31, 2010 and 2009 and Independent Auditors Report INDEPENDENT AUDITORS REPORT The Board of Directors
More informationPhihong Technology Co., Ltd. Financial Statements for the Years Ended December 31, 2015 and 2014 and Independent Auditors Report
Phihong Technology Co., Ltd. Financial Statements for the Years Ended, 2015 and 2014 and Independent Auditors Report INDEPENDENT AUDITORS REPORT The Board of Directors and Stockholders Phihong Technology
More informationYageo Corporation and Subsidiaries. Consolidated Financial Statements for the Years Ended December 31, 2017 and 2016 and Independent Auditors Report
Yageo Corporation and Subsidiaries Consolidated Financial Statements for the Years Ended, 2017 and 2016 and Independent Auditors Report INDEPENDENT AUDITORS REPORT The Board of Directors and Shareholders
More informationCAPITAL SECURITIES CORPORATION AND SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2016 AND 2015 AND INDEPENDENT ACCOUNTANTS AUDIT REPORT
CAPITAL SECURITIES CORPORATION AND SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2016 AND 2015 AND INDEPENDENT ACCOUNTANTS AUDIT REPORT (English Translation of Financial Report Originally
More informationShihlin Electric & Engineering Corp. Financial Statements for the Years Ended December 31, 2013 and 2012 and Independent Auditors Report
Shihlin Electric & Engineering Corp. Financial Statements for the Years Ended and 2012 and Independent Auditors Report INDEPENDENT AUDITORS REPORT The Board of Directors and Stockholders Shihlin Electric
More informationFinancial Statements. For the six months ended June 30, Manitoba Telecom Services Inc.
Financial Statements For the six months ended June 30, 2011 Manitoba Telecom Services Inc. CONDENSED CONSOLIDATED STATEMENTS OF NET INCOME AND OTHER COMPREHENSIVE INCOME (LOSS) Periods ended June 30 Three
More informationWINBOND ELECTRONICS CORPORATION AND SUBSIDIARIES
WINBOND ELECTRONICS CORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In Thousands of New Taiwan Dollars) (Reviewed) December 31, 2016 (Audited) June 30, 2016 (Reviewed) ASSETS Amount % Amount
More informationTaita Chemical Co., Ltd. and Subsidiaries
Taita Chemical Co., Ltd. and Subsidiaries Consolidated Financial Statements for the Years Ended, 2017 and 2016 and Independent Auditors Report DECLARATION OF CONSOLIDATION OF FINANCIAL STATEMENTS OF AFFILIATES
More informationFar Eastern New Century Corporation and Subsidiaries
Far Eastern New Century and Subsidiaries Consolidated Financial Statements for the Six Months Ended and 2015 and Independent Auditors Review Report INDEPENDENT AUDITORS REVIEW REPORT The Board of Directors
More informationASPEED TECHNOLOGY INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS (In Thousands of New Taiwan Dollars) June 30, 2018 December 31, 2017 (Audited) June 30, 2017 June 30, 2018 December 31, 2017 (Audited) June 30, 2017 ASSETS Amount % Amount %
More informationTECO IMAGE SYSTEMS CO., LTD. AND SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS AND REVIEW REPORT OF INDEPENDENT ACCOUNTANTS JUNE 30, 2017 AND 2016
TECO IMAGE SYSTEMS CO., LTD. AND SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS AND REVIEW REPORT OF INDEPENDENT ACCOUNTANTS JUNE 30, 2017 AND 2016 -----------------------------------------------------------------------------------------------------------------------------
More informationCh.8. Financial Report. Financial Status. 5. Current liabilities. Balance sheet. 6. Long-term liabilities. 1. Current assets. 7.
Annual Report 103 Financial Status Ch.8 Letter to Shareholders Balance sheet The Company s condensed balance sheets for the past five years and explanation of significant changes are as follows: 1. Current
More informationSynCore Biotechnology Co., Ltd and Subsidiaries
Stock Code:4192 SynCore Biotechnology Co., Ltd and Subsidiaries Consolidated Financial Statements for the Three Months Ended March 31, 2018 and 2017 and Independent Auditors Review Report (Translation)
More information(English Translation) FUBON INSURANCE CO., LTD. AND SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS
(English Translation) CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2014 AND 2013 AND Independent Auditors Report Thereon Address: No. 237, Sec. 1, Chien Kuo S. Road, Taipei, Taiwan Telephone: 886-2-2706-7890
More informationYageo Corporation and Subsidiaries. Consolidated Financial Statements for the Years Ended December 31, 2016 and 2015 and Independent Auditors Report
Yageo Corporation and Subsidiaries Consolidated Financial Statements for the Years Ended December 31, 2016 and 2015 and Independent Auditors Report INDEPENDENT AUDITORS REPORT The Board of Directors and
More informationFinancial Section. 86 Consolidated Balance Sheets. 88 Consolidated Statements of Income. 89 Consolidated Statements of Comprehensive Income
Financial Section 86 Consolidated Balance Sheets 88 Consolidated Statements of Income 89 Consolidated Statements of Comprehensive Income 89 Consolidated Statements of Changes in Net Assets 91 Consolidated
More informationGIGA-BYTE TECHNOLOGY CO., LTD. UNCONSOLIDATED FINANCIAL STATEMENTS AND REPORT OF INDEPENDENT ACCOUNTANTS 31st DECEMBER 2013 AND 2012
GIGA-BYTE TECHNOLOGY CO., LTD. UNCONSOLIDATED FINANCIAL STATEMENTS AND REPORT OF INDEPENDENT ACCOUNTANTS 31st DECEMBER 2013 AND 2012 ---------------------------------------------------------------------------------------------------------------
More informationTXC CORPORATION. Financial Statements for the Six Months Ended June 30, 2005 and 2004 and Independent Auditors Report
TXC CORPORATION Financial Statements for the Six Months Ended June 30, 2005 and 2004 and Independent Auditors Report INDEPENDENT AUDITORS REPORT The Board of Directors and Stockholders TXC Corporation
More informationNotes to Consolidated Financial Statements
080 Notes to Notes to 1. Reporting entity SoftBank Group Corp. is a corporation domiciled in Japan. The registered address of SoftBank Group Corp. s head office is disclosed on our website (http://www.softbank.jp/).
More informationGlobal Unichip Corp. and Subsidiaries
Global Unichip Corp. and Subsidiaries Consolidated Financial Statements for the Years Ended December 31, 2017 and 2016 and Independent Auditors Report REPRESENTATION LETTER The companies required to be
More informationINTELLIEPI INC. (CAYMAN) AND SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS AND REPORT OF INDEPENDENT ACCOUNTANTS DECEMBER 31, 2016 AND 2015
INTELLIEPI INC. (CAYMAN) AND SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS AND REPORT OF INDEPENDENT ACCOUNTANTS DECEMBER 31, 2016 AND 2015 ---------------------------------------------------------------------------------------------------------
More informationTAIPEI FUBON COMMERCIAL BANK Co., Ltd. and Subsidiary
TAIPEI FUBON COMMERCIAL BANK Co., Ltd. and Subsidiary Consolidated Financial Statements for the Six Months Ended June 30, 2013 and 2012 and Independent Auditors Report INDEPENDENT AUDITORS REPORT The Board
More informationHua Nan Financial Holdings Co., Ltd. and Subsidiaries
Hua Nan Financial Holdings Co., Ltd. and Subsidiaries Consolidated Financial Statements for the Nine Months Ended 2017 and and Independent Auditors Review Report HUA NAN FINANCIAL HOLDINGS CO., LTD. AND
More informationAdvantech Co., Ltd. Financial Statements for the Years Ended December 31, 2005 and 2004 and Independent Auditors Report
Advantech Co., Ltd. Financial Statements for the Years Ended December 31, 2005 and 2004 and Independent Auditors Report INDEPENDENT AUDITORS REPORT The Board of Directors and the Shareholders Advantech
More informationRICHWAVE TECHNOLOGY CORPORATION
PARENT COMPANY ONLY BALANCE SHEETS September 30, 2018 (Reviewed) December 31, 2017 (Audited) September 30, 2017 (Reviewed) ASSETS Amount % Amount % Amount % CURRENT ASSETS Cash $ 475,477 24 $ 175,046 11
More information